On Monday, shares of 4D Molecular Therapeutics (NASDAQ:FDMT) experienced a significant surge, climbing as high as 100% during US trading hours.
The biotechnology company announced interim data from its phase 2 PRISM clinical trial for 4D-150, a treatment developed for wet Age-related Macular Degeneration, a serious eye disease.
The positive response from the market follows the company's release of promising trial results over the weekend. The treatment, 4D-150, is designed to address one of the leading causes of vision loss in older adults. The interim data suggested potential efficacy and safety, capturing the attention of investors and analysts alike.
RBC, a prominent financial services company, responded favorably to the trial's interim results, stating that the outcome "checks all the boxes."
The sharp increase in 4D Molecular Therapeutics' stock price reflects investor optimism surrounding the company's progress in developing treatments for eye diseases. The PRISM clinical trial's positive interim data is a significant milestone for the company, which specializes in gene therapy products.
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